Aeromexico Reports 3Q21 Results

Published: Oct. 1, 2021 at 7:51 PM CDT|Updated: Oct. 19, 2021 at 5:47 PM CDT

MEXICO CITY, Oct. 19, 2021 /PRNewswire/ -- Grupo Aeromexico S.A.B. de C.V. ("Aeroméxico") (BMV: AEROMEX), today reported its unaudited consolidated results for the third quarter 2021.


  • On June 30th, 2020 Aeromexico announced that it and certain of its affiliates had filed voluntary Chapter 11 petitions in the United States ("Chapter 11") to implement a financial restructuring, while continuing to serve customers. The Company intends to use the Chapter 11 process to strengthen its financial position and liquidity, protect and preserve its operations and assets and implement necessary operational changes to address the impact of the ongoing COVID-19 pandemic.
  • Grupo Aeromexico's third quarter capacity, measured in available seat kilometers (ASKs), increased by 24.8% compared to second quarter 2021, primarily driven by a sequential recovery in domestic and international markets. Total ASKs for the third quarter decreased by 26.9% compared to the same period of 2019 due to the impact of the COVID-19 pandemic.
  • Grupo Aeromexico's third quarter 2021 revenue reached $13.2 billion pesos, a 32.2% increase compared to the second quarter of 2021 and a 27.9% decrease with respect to 2019. During the quarter, revenue per ASK (RASK) in pesos increased by 5.9% compared to second quarter 2021 and decreased by 1.3% compared to the same period of 2019.
  • EBITDAR for the period amounted to $3.6 billion pesos, an improvement of $1.8 billion pesos versus second quarter of 2021 and a decrease of $710 million pesos compared to the third quarter of 2019.
  • Aeromexico delivered an Operating Profit of $330 million pesos, its first quarter of profitability since the beginning of the pandemic. The achievement of this milestone represents an improvement of $1.5 billion pesos compared to second quarter 2021.
  • Cost per ASK (CASK) in pesos was $1.351 pesos, a 7.9% decrease compared to second quarter 2021 and a 4.0% increase versus the third quarter 2019. The observed increase is primarily driven by a 0.8% increase in fuel costs and a 26.9% reduction in capacity. CASK in dollars reached $0.068 dollars, a 6.8% decrease compared to second quarter 2021 and a 1.5% increase versus 2019.
  • Aeromexico's cash position as of September 30th, 2021, amounted to $19.1 billion pesos, equivalent to approximately $930 million dollars. Excluding restricted cash, Aeromexico's cash balance amounted to $17.9 billion pesos, equivalent to $873 million dollars. During the quarter, the company generated $1.2 billion pesos of operating cash flow.
  • As at September 30th, 2021, Grupo Aeromexico's operating fleet comprised 122 aircraft, a 3.4% increase compared to the second quarter of 2021.
Grupo Aeroméxico confirms that its voluntary process of financial restructuring under Chapter 11 of the legislation of the United States of America, will be carried out in an orderly manner while it continues operating and offering services to its customers with the same quality that characterizes it, contracting from its suppliers the goods and services required for its operation.

This press release contains certain forward-looking statements that reflect the current views and/or expectations of the Company and its management with respect to its performance, business and future events. We use words such as "believe," "anticipate," "plan," "expect,", "intend," "target," "estimate," "project," "predict," "forecast," "guideline," "should" and other similar expressions to identify forward-looking statements, but they are not the only way we identify such statements. Such statements are subject to a number of risks, uncertainties and assumptions. We caution you that a number of important factors could cause actual results to differ materially from the plans, objectives, expectations, estimates and intentions expressed in this release. The Company is under no obligation and expressly disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

About Grupo Aeromexico

Grupo Aeromexico, S.A.B. de C.V. is a holding company whose subsidiaries are engaged in commercial aviation in Mexico and the promotion of passenger loyalty programs. Aeroméxico, Mexico's global airline, has its main operations center in Terminal 2 of the Mexico City International Airport. Its destination network has reach in Mexico, the United States, Canada, Central America, South America, Asia and Europe. The Group's current operating fleet include Boeing 787 and 737 aircraft, as well as the latest generation Embraer 190. Aeroméxico is a founding partner of SkyTeam, an alliance that celebrates 20 years and offers connectivity in more than 170 countries, through the 19 partner airlines. Aeroméxico created and implemented a Health and Hygiene Management System (SGSH) to protect its clients and collaborators at all stages of its operation.

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SOURCE Grupo Aeromexico S.A.B. de C.V.

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